Reeds Stock Forecast

Big movements in Reeds stock price on Thursday moving 11.33% between high and low
(Updated on Apr 25, 2024)

REED Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Reeds stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $1.75 and $1.67. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -28.07%. Further fall is indicated until a new bottom pivot has been found. Reeds gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Reeds stock

Reeds finds support from accumulated volume at $1.63 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.170 between high and low, or 11.33%. For the last week, the stock has had daily average volatility of 4.67%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (REED) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Reeds to open at $1.60, and during the day (based on 14 day Average True Range), to move between $1.46 and $1.82, which gives a possible trading interval of +/-$0.178 (+/-10.86%) up or down from last closing price. If Reeds takes out the full calculated possible swing range there will be an estimated 21.72% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $1.63 (0.61%) than the resistance at $1.67 (1.83%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Reeds stock A Buy?

Reeds holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.

Current score: -2.394 Sell Candidate Downgraded

Predicted Opening Price for Reeds of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.